Creative Planning Purchases New Position in PS Business Parks Inc (PSB)

Creative Planning purchased a new stake in PS Business Parks Inc (NYSE:PSB) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,646 shares of the real estate investment trust’s stock, valued at approximately $336,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in PS Business Parks by 3.5% in the 2nd quarter. BlackRock Inc. now owns 3,532,903 shares of the real estate investment trust’s stock valued at $453,977,000 after acquiring an additional 117,876 shares during the period. Northern Trust Corp grew its stake in PS Business Parks by 0.3% in the 2nd quarter. Northern Trust Corp now owns 540,091 shares of the real estate investment trust’s stock valued at $69,401,000 after acquiring an additional 1,830 shares during the period. FMR LLC grew its stake in PS Business Parks by 87.2% in the 2nd quarter. FMR LLC now owns 341,134 shares of the real estate investment trust’s stock valued at $43,836,000 after acquiring an additional 158,910 shares during the period. Dimensional Fund Advisors LP grew its stake in PS Business Parks by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 325,419 shares of the real estate investment trust’s stock valued at $41,816,000 after acquiring an additional 2,892 shares during the period. Finally, Rothschild Asset Management Inc. grew its stake in PS Business Parks by 0.7% in the 2nd quarter. Rothschild Asset Management Inc. now owns 233,279 shares of the real estate investment trust’s stock valued at $29,976,000 after acquiring an additional 1,652 shares during the period. 71.32% of the stock is currently owned by hedge funds and other institutional investors.

In other PS Business Parks news, insider John W. Petersen sold 2,500 shares of PS Business Parks stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $129.40, for a total transaction of $323,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.63% of the company’s stock.

Shares of PSB opened at $138.92 on Friday. PS Business Parks Inc has a 52-week low of $107.91 and a 52-week high of $138.93. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.56. PS Business Parks had a net margin of 53.92% and a return on equity of 22.57%. The company had revenue of $103.81 million for the quarter, compared to analysts’ expectations of $100.03 million. Sell-side analysts forecast that PS Business Parks Inc will post 6.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Wednesday, December 12th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $4.20 annualized dividend and a yield of 3.02%. PS Business Parks’s dividend payout ratio (DPR) is presently 68.52%.

A number of equities research analysts recently issued reports on PSB shares. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Wells Fargo & Co lifted their target price on shares of PS Business Parks from $121.00 to $131.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th. Finally, ValuEngine raised shares of PS Business Parks from a “hold” rating to a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $124.75.

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PS Business Parks Profile

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (“REIT”) that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of June 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,000 commercial customers in six states and a 95.0% interest in a 395-unit apartment complex.

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Want to see what other hedge funds are holding PSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PS Business Parks Inc (NYSE:PSB).

Institutional Ownership by Quarter for PS Business Parks (NYSE:PSB)

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